Florida bill would let renters pay monthly fees instead of security deposits

JACKSONVILLE, Fla. โ€“ During whatโ€™s being called an affordability crisis, state lawmakers are trying to ensure Floridians facing exorbitant rent hikes arenโ€™t priced out of the market when they look for cheaper places to live.

Senate Bill 884 and House Bill 537 would give landlords the option to charge renters a smaller nonrefundable monthly fee instead of requiring a refundable security deposit.

The security deposit renters pay landlords is often equal to one to two monthsโ€™ rent โ€” and thatโ€™s on top of rent they pay to move in. If passed, the legislation would let landlords and tenants choose to forgo a deposit for additional fees each month, or the option to switch back to a full deposit during the terms of a tenantโ€™s lease. However, if a landlord offers this option to a renter, they are required to offer it to all of their tenants.

State Sen. Jim Boyd, R-Bradenton, cosponsored the bill and says the fee would be determined by the landlord and either party could reject it.

โ€œSo this gives them the option, if the landlord agrees and the tenant agrees to use a fee, and weโ€™ve found, as an average across the state, a fee is somewhere between the $25 range per month,โ€ Boyd said. โ€œSo instead of paying, you know, maybe $1,000, $1,500, $2,000, this gives them a chance to pay a much lower monthly fee.โ€

In response to a News4JAX questionnaire, asking for peopleโ€™s thoughts on the legislation, Veritasias said: โ€œIf Iโ€™m a landlord, no way I go for that unless the monthly fee I can charge is double what a security deposit would be. And it would be first, last and a security deposit as I need to protect my property.โ€

Joseph wrote, in part: โ€œIt could wind up costing more in the long run and rent is already high enough without all the extra bells, and whistles.โ€

Boyd says the bill is aimed at assisting low-income families secure housing.

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Lawmakers also say Florida law permits landlords to keep security deposits for 15 days after a tenant has moved out, which may keep a low-income tenant from being able to immediately move into new housing.

The legislation is being met with opposition from state Sen. Audrey Gibson, D-Jacksonville.

โ€œJust imagine you stay there for 10 years, even five years, how many times have you paid the deposit month after month after month,โ€ said Gibson.

Gibson says that while the bill may have good intentions, in her opinion, the Legislature needs more detailed parameters in the proposal.

โ€œThereโ€™s no end to it, and thereโ€™s no refund whenever you move out, so we have to do something different,โ€ Gibson said. โ€œItโ€™s like I said before, itโ€™s like a poor tax.โ€

So far, the Senate bill has cleared two committees and is waiting to be heard by a third before the full Senate can take it up.

The House version has made it through the committees, so itโ€™s next stop is the House floor.

What are your thoughts on this legislation? What would you rather choose as a renter?


About the Author:

Tarik anchors the 4, 5:30 and 6:30 p.m. weekday newscasts and reports with the I-TEAM.